Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Receives $24.25 Consensus PT from Brokerages

Shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $24.25.

Several research firms have weighed in on ANL. Oppenheimer began coverage on Adlai Nortye in a report on Thursday, May 28th. They issued an “outperform” rating and a $32.00 price objective for the company. Cantor Fitzgerald assumed coverage on Adlai Nortye in a report on Monday, June 22nd. They set an “overweight” rating for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adlai Nortye in a research note on Tuesday, July 14th. JonesTrading began coverage on shares of Adlai Nortye in a report on Thursday, May 14th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, HC Wainwright boosted their price objective on shares of Adlai Nortye from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, April 20th.

Adlai Nortye Price Performance

NASDAQ ANL opened at $13.34 on Tuesday. Adlai Nortye has a 1 year low of $0.88 and a 1 year high of $17.25. The business’s 50-day moving average is $11.50 and its 200 day moving average is $10.88.

Hedge Funds Weigh In On Adlai Nortye

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SmartHarvest Portfolios LLC raised its stake in Adlai Nortye by 8.5% in the first quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock worth $113,000 after buying an additional 1,279 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Adlai Nortye in the 1st quarter worth approximately $457,000. Affinity Asset Advisors LLC purchased a new position in shares of Adlai Nortye in the 1st quarter valued at approximately $1,140,000. ADAR1 Capital Management LLC bought a new stake in shares of Adlai Nortye during the first quarter valued at approximately $816,000. Finally, Boone Capital Management LLC bought a new stake in shares of Adlai Nortye during the second quarter valued at approximately $2,971,000. Hedge funds and other institutional investors own 35.21% of the company’s stock.

Adlai Nortye Company Profile

Adlai Nortye Inc (NASDAQ: ANL) is a specialty chemical manufacturer headquartered in China’s Jiangsu Province. The company focuses on the research, development, production and sale of fine chemicals, with a primary emphasis on amino acids and their derivatives.

Adlai Nortye’s product portfolio includes betaine compounds, a range of high-purity L-amino acids such as L-methionine, L-threonine and glycine, as well as various chemical intermediates. These offerings serve multiple end markets, including animal feed and nutrition, personal care and cosmetic formulations, pharmaceutical ingredients and industrial chemical processes.

The company operates multiple production facilities alongside an in-house research and development center dedicated to process innovation and quality control.